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Business, 30.03.2020 22:10 desiiraee6265

Cash operating costs are anticipated to be $12,320 for the month of April. 6. Equipment costing $2,640 will be purchased for cash in April. 7. The company wishes to maintain a minimum cash balance of $12,930. An open line of credit is available at the bank. All borrowing is done at the beginning of the month, and all repayments are made at the end of the month. The interest rate is 15% per year, and interest expense is accrued at the end of the month and paid in the following month. Prepare a cash budget for the month of April. Determine how much cash Tamarisk, Inc. must borrow, or can repay, in April.

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Cash operating costs are anticipated to be $12,320 for the month of April. 6. Equipment costing $2,6...
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